Airless Jerusalem apartment? Sold for $1.05m.

May 27, 2008 - 10:14 AM by

Mmm. What would I do if I had $1 million to spend?

Buy an airless apartment in Jerusalem of course…

Things are getting so ludicrous in the real estate market here that a small 75-square meter apartment in Kfar David, which overlooks the Old City, sold for $1.05 million recently, even though the windows only face in one direction. What a bargain!

The purchaser was a Jewish European businessman who paid about $14,000 per square meter. Other apartments in the complex (those with more than one set of windows) sell for up to $25,000 per square meter.
jerusalem 2.jpg

Real estate agents were complaining that the drop in the dollar rate against the shekel was impacting sales.
Not too badly it seems.

Ah, to be a millionaire. The treasures it buys.

Tags: , , , • Category: Business, General, Life 

Comments

One Comment on Airless Jerusalem apartment? Sold for $1.05m.

  1. Faye on Mon, Jun 9th 2008 10:32 PM

    2. Let me know where there are affordable apartments in Jerusalem for a change. Every building project boasts its exclusivity, catering to wealthy tourists who may visit for a week or two annually, but who don’t support the city in meaningful ways. We actually became olim almost three years ago (from Detroit, where housing was always relatively inexpensive)and are being squeezed out of both the Jerusalem rental and purchasing markets due to over-inflated prices, the drop in the dollar, and an apparent preference for those who earn dollars or euros vs. shekels.

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